Local Stops + Unmanaged Environments

[cgeorgan]

Hi-

Is it possible to institute a regime of locally-managed stops in an unmanaged strategy? I don't see any options under "SubmitOrder" that allow such a thing -

I have experience in other trading systems locally monitoring prices on an event-update basis, then submitting what are essentially marketable limit orders in lieu of stops...but since NT offers the local option in one instance of its strategies, I was hoping perhaps there was something in the unmanaged version for this -

[NinjaTrader_Tim]

Hi cgeorgan,

With the unmanaged approach, you will need to create (submit), change and cancel orders manually. There is nothing similar to, for example, SetStopLoss() to manage stops.

[cgeorgan]

Hi cgeorgan,

With the unmanaged approach, you will need to create (submit), change and cancel orders manually. There is nothing similar to, for example, SetStopLoss() to manage stops.

Gotcha. As far as stops in an unmanaged environment, I am familiar with other trading systems (NeoTicker would be my example) which allow you to specify whether stops are held by the system or by the broker.

NinjaTrader already knows what kind of order you are submitting with SubmitOrder (OrderType.Stop or OrderType.StopLimit); thus if you had a flag in your code such as "HoldStopsLocally = true" you would specify to Ninja that these stops are to be held internally, not submitted to the broker.

Thoughts for your programmers -

[NinjaTrader_Tim]

Hi cgeorgan,

Thank you for the suggestion, I will forward this on to our development team for future consideration.